Instructions: Show all calculations. Round money answers to 2 decimal places. Label units clearly (R, %, hours).
Section A: Reading a Payslip (8 marks)
| Earnings | Deductions | ||
|---|---|---|---|
| Basic salary | R 14 500 | UIF (1%) | |
| Overtime | R 1 200 | Medical aid | R 850 |
| Gross income | Pension (7.5%) | ||
| Total deductions | |||
| Net pay |
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Calculate the gross income. (2)
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Calculate the UIF deduction. (1)
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Calculate the pension contribution. (2)
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Calculate the total deductions. (1)
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Calculate the net pay. (2)
Section B: VAT (6 marks)
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A jacket costs R 349 including VAT (15%). Calculate the VAT amount included in the price. (2)
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A laptop costs R 8 200 excluding VAT. Calculate the VAT-inclusive price. (2)
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You buy groceries for R 215 (VAT-exempt) and cleaning products for R 130 (VAT-inclusive). How much VAT did you pay in total? (2)
Section C: Monthly Budget (6 marks)
Monthly income: R 12 400 net
| Expense | Amount |
|---|---|
| Rent | R 4 200 |
| Groceries | R 1 800 |
| Transport | R 650 |
| Electricity | R 420 |
| Cellphone | R 299 |
| Entertainment | R 500 |
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Calculate total monthly expenses. (2)
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Is there a surplus or deficit? Calculate the amount. (2)
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Suggest one way to improve this budget and explain why. (2)
Total: 20 marks